[QUOTE=ātallback, post: 1080999, member: 1158ā]
I presume youāll be lodging all your savings in Greece now as a show of solidarity with their brave stand?[/QUOTE]
What fucking savings? Theyve all gone to supplement the earnings that were decimated to save the landesbanks
[QUOTE=ātallback, post: 1080999, member: 1158ā]Sure, buts thatās the economy we have. No point risking it stupidly. Get rid of the Pfizers, Intels and Googles and see how that impacts every other worker - just look at the impact in Limerick when Dell shut up shop.
I presume youāll be lodging all your savings in Greece now as a show of solidarity with their brave stand?[/QUOTE]
Iāll be having some Greek Yogurt in the morning. Canāt give a bigger show of support than entrusting my breakfast to them.
Iād have feta cheese for lunch but itās gone an awful price altogether.
I think that the first thing to remember about this Greek bailout is that they donāt have a notion of repaying the full debt. Never have and never will. Greece has got form in this area. In modern times they have defaulted on debts five times (1826, 1843, 1860, 1894 and 1932). The combined length of time in which Greece has been technically in default during the modern era amounts to 90 years, or approximately 50% of the total period that the country has been independent
In fact you can go back much earlier to find the first recorded evidence of a Greek default. The first recorded default in Greek history occurred in the fourth century B.C., when 13 Greek city states borrowed funds from the Temple of Delos. Most of the borrowers never made good on the loans and the temple took an 80% loss on its lending.
So they havenāt a notion of repaying. Letās also remember what led to this defaultā¦successive Greek Governments bribed the electorate leading to a grossly over staffed and over paid public service. Linked to this a total failure to collect taxes at all levels of society.
I still canāt understand why Samaras the PM forced the election, trying (and failing) to get Parliament to accept his candidate for President. They called his bluff.
So now we have Syriza in power. I can fully understand the Greeks electing them. There have been horrendous cuts to the Greek economy, 50% youth unemployment. Mass emigration (Iāve even hired a few Greeks myself here recently). Inevitable that people will shout enough. (But a lot of them partied during the good times).
The best they can hope for is to negotiate some deferral of the debt and promise to collect some tax. But for Merkel to agree to that will open the door to Spain, Portugal and Italy looking for the same. But not Paddy. Paddy was a good boy and took his austerity like a man. These Meditteranean types donāt like it up them. Great at spending someone elses money though. I believe that Merkel will have to show some flexibility. (Would be no harm for the European economy as well if the Germans started to spend some money, the tight bastards.
The alternative to a re-negotiation is a debt default. Zorba has form here. Iād be inclined to let them off just for the craic and see what happens. It might educate a few of the wishful thinkers on the left anyway when no one will lend to them and the economy collapses.
[QUOTE=ātallback, post: 1080999, member: 1158ā]Sure, buts thatās the economy we have. No point risking it stupidly. Get rid of the Pfizers, Intels and Googles and see how that impacts every other worker - just look at the impact in Limerick when Dell shut up shop.
I presume youāll be lodging all your savings in Greece now as a show of solidarity with their brave stand?[/QUOTE]
Thatās a very stupid rhetorical question.
You wonāt make many jobs from indigenous industries like craft beer , mate.
Not if cunts like you keep drinking mass produced stuff instead of pretending to like craft beers like me.
SMEās employ over 70% of the people in the country.
How many do the Government employ? Serious question.
Different currency, which for the most part is all that matters.
from reading
[QUOTE=ābalbec, post: 1081012, member: 193ā]I think that the first thing to remember about this Greek bailout is that they donāt have a notion of repaying the full debt. Never have and never will. Greece has got form in this area. In modern times they have defaulted on debts five times (1826, 1843, 1860, 1894 and 1932). The combined length of time in which Greece has been technically in default during the modern era amounts to 90 years, or approximately 50% of the total period that the country has been independent
In fact you can go back much earlier to find the first recorded evidence of a Greek default. The first recorded default in Greek history occurred in the fourth century B.C., when 13 Greek city states borrowed funds from the Temple of Delos. Most of the borrowers never made good on the loans and the temple took an 80% loss on its lending.
So they havenāt a notion of repaying. Letās also remember what led to this defaultā¦successive Greek Governments bribed the electorate leading to a grossly over staffed and over paid public service. Linked to this a total failure to collect taxes at all levels of society.
I still canāt understand why Samaras the PM forced the election, trying (and failing) to get Parliament to accept his candidate for President. They called his bluff.
So now we have Syriza in power. I can fully understand the Greeks electing them. There have been horrendous cuts to the Greek economy, 50% youth unemployment. Mass emigration (Iāve even hired a few Greeks myself here recently). Inevitable that people will shout enough. (But a lot of them partied during the good times).
The best they can hope for is to negotiate some deferral of the debt and promise to collect some tax. But for Merkel to agree to that will open the door to Spain, Portugal and Italy looking for the same. But not Paddy. Paddy was a good boy and took his austerity like a man. These Meditteranean types donāt like it up them. Great at spending someone elses money though. I believe that Merkel will have to show some flexibility. (Would be no harm for the European economy as well if the Germans started to spend some money, the tight bastards.
The alternative to a re-negotiation is a debt default. Zorba has form here. Iād be inclined to let them off just for the craic and see what happens. It might educate a few of the wishful thinkers on the left anyway when no one will lend to them and the economy collapses.[/QUOTE]
so now standing up for yourself is not liking it up them?
Around 15%
Our SME compares very well to a lot of the rest of the world doesnāt it?
You havenāt a notion what you are talking about.
Exactly the reason stability is needed with regards to currency. An awful lot of SMEās either export or import from the UK. Importing is hurting right now.
[QUOTE=āThe Selfish Giant, post: 1081071, member: 80ā]from reading
so now standing up for yourself is not liking it up them?[/QUOTE]
Well if you borrow money you have to expect to pay it back sometime.
[QUOTE=ātallback, post: 1080999, member: 1158ā]Sure, buts thatās the economy we have. No point risking it stupidly. Get rid of the Pfizers, Intels and Googles and see how that impacts every other worker - just look at the impact in Limerick when Dell shut up shop.
I presume youāll be lodging all your savings in Greece now as a show of solidarity with their brave stand?[/QUOTE]
Strawman, your last point. The fact remains, that whilst the AIB and BofI needed bailing out by govt, Anglo did not, and had either the then govt, who were acting in acute circumstance, or kenny et al, who were coming at cold and potentially clear eyed, had any backbone, most if the banking debt, which will eventually be down to Anglo, could have been avoided. I hold them all equally to blame for the original pickle, as Kennys only complaint in the boom was that the then govt werenāt spending more.
The only trouble with bribing the MNCās as I see it, is that sooner or later, someone will bribe them more, and you then either need to undercut that, or they will relocate. A race to the bottom, and Ireland is an expensive place to live.
Unless you are an Irish banker or developer.
That doesnt appky to banks though for some reason .capitalism has failed